Kentwood Michigan Real Estate Market Report Jan -June 2011

Kentwood Michigan is a large suburb of Grand Rapids with a population

under 50,000. It has manufacturing, shopping centers, and lots and lots

of residential housing. Kentwood Public Schools are one of the largest

school systems in the area with over 9000 students and 16 buildings

within a 24.25 square mile area.

Kentwood home sales have recouped some of their value this year

though sales volume is down. We are still seeing some home price

reduction on homes in poor/dated condition. Good news for sellers,

Kentwood has decreased absorption rates as fewer homes are entering

the market, 60% less homes sold in 2010 than in 2009.

2011 Mid Year Kentwood STATS:

368 Active Listings for sale

124 Pending Home Sales

223 Sold Homes

$96,571 Average Sold Price

96.83% of List Price

Absorption Rate: 6.3 months

Home prices are still depressed in many areas of Kentwood

compared to a few years ago. The Absorption rate is a bit lower than

last year, which is a good sign.

Foreclosures and short sales are still affecting the average market price

in Kentwood. Home prices will be affected by the way banks handle their

home inventory that is still being held. If they take a measured approach

to putting these homes on the market, prices will not be affected as much

as if they dump the large home inventory they still hold on the market as

soon as possible.

More Kentwood Michigan Articles:

SEARCH for Kentwood Michigan Homes

Real Estate is always hyper-local. If you have questions about

a specific Kentwood home, please contact me.

Photo of Kentwood Public Library by Bonnie Westbrook

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The authors of the this blog write about Grand Rapids Real Estate,

the Greater Grand Rapids MI area, and what it is like to live in West

Michigan. We believe: Grand Rapids is a Great Place to Live!

Contact Terry 616-292-7263

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